Ford's F-Series truck gain softens blow of coronavirus-driven decline

Ford sold 180,825 F-Series trucks in the second quarter, far outpacing General Motor’s Chevrolet Silverado and Fiat Chrysler’s Ram.
By : Bloomberg
| Updated on: 03 Jul 2020, 10:28 AM
Ford Motor recently launched the next generation of America's best-selling vehicle - 2021 F-150 pickup truck.
Ford Motor recently launched the next generation of America's best-selling vehicle - 2021 F-150 pickup truck.
Ford Motor recently launched the next generation of America's best-selling vehicle - 2021 F-150 pickup truck.
Ford Motor recently launched the next generation of America's best-selling vehicle - 2021 F-150 pickup truck.

Ford Motor Co.’s sales declined less than expected in the second quarter on the strength of its F-Series pickup line, which gained market share and has much more inventory than its key competitors.

The automaker’s light-vehicle sales dropped 32.9%, beating analysts’ estimates of a 34.2% drop and narrowly outperforming the overall industry. The F-Series, Ford’s best seller, gained 2.6 points of retail share even as the truck line’s deliveries declined by more than a fifth because of coronavirus-related plant shutdowns.

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(Also read: Ford launches new tech-savvy F-150 pickup truck with hands-free driving)

Pickups were among the strongest sellers as the industry weathered recessionary conditions before factories resumed production in mid-May. Ford sold 180,825 F-Series trucks in the second quarter, far outpacing General Motor Co.’s Chevrolet Silverado and Fiat Chrysler Automobiles NV’s Ram. Ford is now at full production and has twice the inventory of Silverado and 55,000 more units of supply than Ram, according to Mark LaNeve, Ford’s U.S. sales chief.

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“We’re in a much better position than GM and certainly better than FCA, I mean dramatically better," LaNeve said in an interview. “We’re optimistic that these recurrences of the virus get under control and that Q3 can improve somewhat from Q2 and we keep this month-to-month steady improvement."

(Also read: Ford F-Series truck business is worth more than McDonald's, Coca-Cola, Starbucks)

Ford will start selling a redesigned F-150 pickup later this year that will include reclining sleeper seats and hands-free driving technology.

First Published Date: 03 Jul 2020, 10:28 AM IST
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